Three newly approved economic zones spread across Metro Manila, Calabarzon, and Northern Mindanao are projected to bring in more than P3 billion in investments while opening thousands of employment opportunities, according to Executive Secretary Ralph Recto.
The planned developments span an information technology hub in Parañaque City, an innovation-focused estate in Calamba, Laguna, and an agro-industrial complex in Medina, Misamis Oriental. Recto said the combined projects are expected to attract about P3.03 billion in capital and create as many as 7,200 jobs.
“These significant areas continue to attract investors because of their strategic location, skilled workforce, good infrastructure, and reliable utilities,” Recto said in a statement released Sunday.
The economic zones were formalized through proclamations signed on December 16. One proclamation designates 8912 ASEAN Avenue in Parañaque City as an Information Technology Hub. Another covers the Filinvest Innovation Park in Calamba, Laguna, situated in Barangays Bubuyan and Punta, declaring it a special economic zone.
A separate proclamation establishes an agro-industrial economic zone in Medina, Misamis Oriental, covering several parcels of land along the National Road in Purok 9, Barangays Cabug and Maanas. The area will operate under the name Alloco Development Corp. Industrial Estate.
“Kaya nararapat lang na magkaroon dito ng mga special economic zone (That is why it is only fitting to establish special economic zones here),” Recto said.
“With this, we can keep building future-ready industries and generate more job opportunities—not just for our kababayans in these areas, but for all Filipinos across the country,” he added.
Special economic zones are designated areas where businesses receive financial and regulatory incentives. Depending on the industry, these zones may take several forms, including manufacturing estates, technology parks, and specialized tourism hubs.
